Market LIVE: Sensex, Nifty trade flat amid volatility; Pharma stocks gain

Govt plans to increase washed coking coal supplies to steel sector to 15 mt

The union coal ministry plans to increase washed coking coal supplies to steel sector from 3 million tonne (mt) to 15 mt.

“Coal Ministry giving further boost to steel sector; plans to enhance supply of washed coking coal to steel sector from 3 to 15 Million Ton. Two coking coal washeries commissioned, three more under construction,” coal ministry said in a tweet on Wednesday.

Nifty in the green

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RECPDCL hands over transmission SPV to IndiGrid

State-run REC Limited’s subsidiary REC Power Development and Consultancy Ltd (RECPDCL) handed over the special purpose vehicle (SPV) formed for the construction of transmission project for supplying electricity from 1 gigawatt (GW) renewable energy projects in Osmanabad to IndiGrid 1 Limited and IndiGrid 2 Limited on Tuesday. 

Here are 2 top stock picks by HDFC Securities over the next two quarters

Domestic brokerage and research firm HDFC Securities has recommended top two stock picks which are pharmaceuticals company Cadila Healthcare and IT Consulting & Software provider Oracle Financial Services Software Ltd (OFSS) as ‘Buy’ ratings with the time frame of over the next two quarters.

India’s oldest ETF crosses 20 years since launch, delivers return of 16%

MUMBAI: Nippon India ETF Nifty BeES, India’s oldest ETF, has completed 20 years since its launch on 28 December 2001. The exchange traded fund (ETF) was originally launched as part of Benchmark Mutual Fund, which accounts for the BeES part of its name. Since then it has undergone three changes of ownership before ultimately finding a place in the basket of funds managed by Nippon India Asset Management Company (AMC).

Nippon India ETF Nifty BeES has ₹5,113 crore worth assets under management (AUM). It has delivered a return of 15.98% since inception. It has an expense ratio of just 0.05%. ₹1 lakh invested in the ETF at inception would now be worth ₹19.4 lakh.

Stocks in Europe edged higher

Stocks in Europe edged higher on Wednesday along with U.S. equity-index futures as investors assessed the economic implications of the omicron coronavirus outbreak. Treasuries and the dollar were steady.

The Stoxx Europe 600 index nudged to within a whisker of another record, with retailers outperforming. Technology shares declined, following the sector’s retreat in Asia and the U.S. Contracts on the S&P 500 and Nasdaq 100 rose after the rally in U.S. stocks paused on Tuesday. Volumes remained thin into the end of the year in some markets.

4.86 crore IT returns filed for AY 2021-22 till Dec 28

Over 4.86 crore Income Tax Returns (ITRs) have been filed for the Assessment Year 2021-22 till December 28, Income Tax Department data showed on Wednesday.

A total 18,89,057 income tax returns were filed on December 28. With this, the cumulative number of ITRs filed for the Assessment Year 2021-22 rose to 4,86,34,306.

Bajaj Auto commences work at its new EV facility, roll out in June 2022

Bajaj Auto has today announced an investment of ₹300 crore and commenced work at a brand-new unit at Akurdi for manufacturing electric vehicles. This unit will have a production capacity of 500,000 EVs per annum. Akurdi (Pune) is also the site of the original Chetak scooter factory that made Bajaj Auto a household name in India. It is spread over half a million sq. feet and will employ nearly 800 people.

OKEx lists dogecoin, shiba inu, baby doge and kishu inu on its platform

Global cryptocurrency exchange, OKEx, has listed more coins like axie infinity (AXS), gala (GALA), dogecoin (DOGE), shiba inu (SHIB), baby doge (BABYDOGE), kishu inu (KISHU), and dogelon mars (ELON) under its express buy trading option.

OKEx users can purchase tokens directly using fiat currencies like the Indian rupee, Pakistani rupee, Philippine peso and Vietnamese dong in the express buy area. The platform will help complete the exchange process from fiat into tether (USDT), a stablecoin, and then into the target token.

Paytm Payments Bank appoints three new independent directors

The associate entity of Paytm, Paytm Payments Banks has announced appointment of three independent directors. The board of Paytm Payments Bank has approved the appointment of former DPIIT secretary Ramesh Abhishek), banking veteran with SBI Manju Agarwal, and banker Shinjini Kumar as independent directors.

RIL, Sun Pharma, IndusInd Bank most active on Nifty

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Nureca up 20%

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Infosys invites applications from freshers for process executives. Check details

EPFO e-nomination facility

Retirement fund body Employees’ Provident Fund Organisation (EPFO) has asked all the account holders to add a nominee by 31 December and if a account holder does not add a nominee then the individual may have to forego various benefits offered by EPFO. Subscribers can add nominee online by following the certain steps as suggested by EPFO.

How to do it online in 8 steps as deadline ends on 31 Dec.

Mazagon Dock Shipbuilders approves interim dividend, fixes record date

State-owned Mazagon Dock Shipbuilders informed that the company’s board of Directors of at their meeting held on Tuesday, 28 December 2021, approved declaration of interim dividend of ₹7.10 per share. The board has declared Friday, 7 January, 2022 as the record date for reckoning eligibility of shareholders for the purpose of payment of interim dividend.

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Most broad market indices on Nifty in the red 

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Oil Holds Near One-Month High on Signs U.S. Stockpiles Falling

Oil held near a one-month high after industry data pointed to another drop in U.S. crude inventories and traders bet the fast-spreading omicron virus variant would prove to be less severe than earlier waves.

West Texas Intermediate was steady near $76 a barrel after gaining 11% over the last five sessions. The American Petroleum Institute reported nationwide crude holdings fell by 3.1 million barrels last week, according to people familiar with the data, which also showed a rise at Cushing, the biggest U.S. storage hub. The government releases the official tally later on Wednesday. (Bloomberg)

This bank will charge customers for depositing more than ₹10,000 from 1 January 2022

India Post Payments Bank (IPPB) is changing its banking rules from 1 January 2022. New rules are being introduced with respect to withdrawal as well as depositing cash. IPPB account holders will have to pay more for depositing cash and making cash withdrawals if they exceed the prescribed limit. 

These 2 Rakesh Jhunjhunwala portfolio Tata Group stocks are Motilal Oswal’s top picks for 2022

For the year 2022, domestic brokerage and research firm Motilal Oswal has shared its top stock picks for the new year which includes two Tata Group stocks Tata Motors and Titan, under the list of the brokerage’s largecaps ideas. While…